ResMed Inc. (NYSE:RMD) has been given a consensus rating of “Hold” by the fourteen research firms that are covering the firm. Five analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is C$58.63.
Several research firms have commented on RMD. Zacks Investment Research cut shares of ResMed from a “hold” rating to a “sell” rating in a report on Wednesday, September 28th. Bank of America Corp. upgraded shares of ResMed from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $89.00 to $72.00 in a research report on Thursday, September 29th. Canaccord Genuity restated a “hold” rating and set a $57.00 price objective on shares of ResMed in a research report on Monday, July 25th. JPMorgan Chase & Co. started coverage on shares of ResMed in a research report on Tuesday. They set a “neutral” rating and a $64.00 price objective for the company. Finally, Barclays PLC restated an “underweight” rating and set a $55.00 price objective on shares of ResMed in a research report on Friday, August 26th.
In other ResMed news, CFO Brett Sandercock sold 35,000 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of C$70.50, for a total transaction of C$2,467,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 5,975 shares of the company’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of C$65.03, for a total transaction of C$388,554.25. Following the transaction, the chief executive officer now owns 154,814 shares of the company’s stock, valued at approximately C$10,067,554.42. The disclosure for this sale can be found here. Company insiders own 1.97% of the company’s stock.
A number of institutional investors have recently made changes to their positions in RMD. Commonwealth Equity Services Inc boosted its position in ResMed by 0.3% in the second quarter. Commonwealth Equity Services Inc now owns 5,377 shares of the company’s stock worth $340,000 after buying an additional 18 shares during the period. Citigroup Inc. boosted its position in ResMed by 2.8% in the second quarter. Citigroup Inc. now owns 1,572 shares of the company’s stock worth $100,000 after buying an additional 43 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its position in ResMed by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 24,240 shares of the company’s stock worth $1,533,000 after buying an additional 79 shares during the period. World Asset Management Inc boosted its position in ResMed by 1.2% in the second quarter. World Asset Management Inc now owns 7,346 shares of the company’s stock worth $464,000 after buying an additional 85 shares during the period. Finally, Utah Retirement Systems boosted its position in ResMed by 0.4% in the second quarter. Utah Retirement Systems now owns 25,383 shares of the company’s stock worth $1,605,000 after buying an additional 100 shares during the period. Institutional investors own 61.07% of the company’s stock.
ResMed (NYSE:RMD) traded down 0.12% during mid-day trading on Tuesday, reaching $64.25. 351,576 shares of the company traded hands. ResMed has a 52 week low of $50.77 and a 52 week high of $70.90. The firm has a market capitalization of $9.04 billion, a price-to-earnings ratio of 25.80 and a beta of 0.68. The stock’s 50 day moving average price is $66.37 and its 200 day moving average price is $62.35.
ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. ResMed had a net margin of 18.63% and a return on equity of 23.89%. The company earned $518.60 million during the quarter, compared to analysts’ expectations of $512.37 million. During the same quarter in the previous year, the business posted $0.68 EPS. The firm’s revenue was up 14.5% on a year-over-year basis. Equities analysts forecast that ResMed will post $2.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, August 18th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $1.32 dividend on an annualized basis and a yield of 2.05%. This is an increase from ResMed’s previous quarterly dividend of $0.30. ResMed’s dividend payout ratio is presently 54.32%.
ResMed Company Profile
ResMed Inc is engaged in the development, manufacturing, distribution and marketing of medical products for the diagnosis, treatment and management of respiratory disorders, with a focus on sleep-disordered breathing (SDB). The Company develops various products for SDB and other respiratory disorders, including airflow generators, diagnostic products, mask systems, headgear and other accessories.
Receive News & Ratings for ResMed Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed Inc. and related companies with MarketBeat.com's FREE daily email newsletter.